The Consolidated Appropriations Act of 2024, introduced this week, funds a portion of the federal government and includes provisions to provide payment relief for healthcare providers who serve Medicare beneficiaries.
The legislation increases the congressional bump to the Medicare Physician Fee Schedule (MPFS) conversion factor (CF) by 1.68% beginning March 9 for the remainder of 2024. When combined with the already existing 1.25% CF bump that Congress passed at the end of 2022, the result is a 2.93% increase over what the CF would have been without congressional action.
CMS finalized a 2024 CF reduction of -3.37%, which included the previous 1.25% increase and statutorily required budget neutrality adjustments. The net impact of this legislation will result in a CF approximately 1.68% above current level (and approximately 1.69% below the 2023 CF).
Congress is expected to pass the legislation and send it to President Biden for signature by March 8 to avoid a partial government shutdown.
The American College of Radiology® (ACR®)-led coalition of physician and non-physician providers continues to work with Congress and reiterate that year-over-year cuts are not sustainable, and the Medicare payment system needs long-term reform.
For more information, contact Rebecca Spangler, Senior Government Relations Director.